Stos Partners and Cardinal Industrial Acquire Light Industrial Portfolio Totaling 1.1 Million SF in Indianapolis, IN

Michael McFarland

 INDIANAPOLIS, IN – Stos Partners and Cardinal Industrial, two of the most active commercial real estate investment and management firms based in Southern California, have entered the Midwest market with the acquisition of an approximately 1.1 million square-foot light industrial portfolio in Indianapolis, Indiana.

 The portfolio comprises a total of 34 multi-tenant light industrial properties occupied by a diverse mix of tenants.

 The firms continue to be bullish on industrial assets throughout the country, where trends like e-commerce, onshoring and supply constraints are driving skyrocketing industrial demand, according to Jason Richards, Partner of Stos Partners.

Jason Richards

 “We continue to be nimble and flexible in order to strategically expand our industrial holdings and implement our proven value-add business plans, successfully enacted in several Southern California and Southwest markets,” says Richards.

 “In Q3, Indiana experienced a 2.06 million square foot of positive net absorption, bolstering the growth opportunities behind this investment.”

 The asset was procured off market through close broker relationships, according to Michael McFarland, Principal at Cardinal Industrial.

 “Based off of Stos Partners and Cardinal’s track record of completed transactions and close broker relationships, we were able to secure this opportunity and meet the tight timeline of a year-end close,” says McFarland.

CJ Stos

 The portfolio, which is 95% occupied, was purchased from a private individual who had owned and developed the property over numerous decades and presented the opportunity to capitalize on high demand and bring rents up to market.

 CJ Stos, Principal of Stos Partners, adds: “Part of our business plan will be a focus on implementing a number of capital improvements to modernize and give a fresh look to the properties, which were originally built over the span of roughly 50 years.

 "These updates include roof and parking lot upgrades, along with the improvement or addition of integrative amenities.

Alex Cantu

"Our capital improvements will aid in growing the income of this portfolio overtime, resulting in significant value creation.”

 The portfolio is located in close proximity to a significant population center, with the buildings positioned throughout Northeast and Northwest Indianapolis.

 

Alex Cantu and Alex Davenport from Colliers International represented Stos Partners as the buyer in the transaction.

 CONTACTS:

Katie Haga / Elisabeth Manville
The Smart Agency, Inc.
(949) 438-6262
khaga@thesmartagency.com  

Last-mile Atlanta-area industrial portfolio sells for $27 million

 

Maddie Davis

 ATLANTA, GA – JLL Capital Markets has closed the $26.9 million sale of a four-property industrial portfolio totaling 278,558 square feet across Atlanta’s northern suburbs.

 JLL marketed the property on behalf of the seller, Tamarack Investments, who sold the portfolio to two buyers.

Matt Wirth

Faropoint acquired these three assets: 

 4680 North Royal Atlanta Dr. in Tucker, GA; 

5121 Buford Hwy. in Norcross, GA;

 2100 Boggs Rd. in Duluth, GA.

 Denali Investment Group purchased the property at 1420 Redi Rd. in Cumming.

 Each property is in a densely populated and well-established Atlanta Industrial submarket, including the Northeast, I-20 East and North Central, both of which are experiencing increased demand for infill, last-mile industrial product.

Dennis Mitchell

The properties are all less than five miles from the area’s major logical thoroughfares, including Interstates 85, 75 and 985 and GA-400.

Additionally, they are all within 36 miles of the Atlanta CBD, four of which are within 25 miles.

 Currently 80 percent leased on a triple-net-lease basis, the single-tenant buildings offer a variety of uses, from light industrial to manufacturing and processing.

They were constructed between 1986 and 1991 and feature multiple loading positions, clear heights ranging from 18 to 30 feet, ample office finish and parking and varying building depth.

Britton Burdette

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Matt Wirth, Huston Green, Dennis Mitchell, Britton Burdette, Jim Freeman and Maddie Davis.

 “The portfolio was defined by the building locations in very dense, suburban, infill locations, and the ownership group was flexible about selling as a portfolio or in multiple transactions,” Freeman said.

“Ultimately, the process resulted in two buyers for two different segments of assets, one with stabilized buildings and significant mark-to-market potential, and another with near-term vacancy and a compelling lease-up opportunity to create value.”

 

Jim Freeman

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization.

 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

 For more news, videos and research resources on JLL, please visit our newsroom.

 CONTACTS:

 Kimberly Steele,

JLL Manager,

Public Relations

Phone: +1 713 852 3420

Email:  Kimberly.Steele@am.jll.com

 

Jason Chaliff, jason@investdenali.com

 or Michael Godin, michael@investdenali.com.

faropoint.com.

investors@tamarackinv.com.

William Ross, William@faropoint.com.

 

From left to right: Todd Leach, ISHC, Partner, Dedica Group; Andrea Belfanti, CEO, ISHC; Peggy Berg, Chair, Castell Project & Pioneer Award Recipient; Kristie Dickinson, ISHC, Managing Director/EVP, CHMWarnick; and Jeff Higley, ISHC, President, The BHN Group.

 

Peggy Berg

Los Angeles, CA — The International Society of Hospitality Consultants (ISHC) in partnership with the Americas Lodging Investment Summit (ALIS) presented Peggy Berg, chair of the Castell Project, with the Pioneer Award which recognizes an individual annually who has made an outstanding contribution, achievement and/or improvement in the hospitality industry. 

Jeff Higley, ISHC, president of The BHN Group; Todd Leach, ISHC president and partner of Dedica Group; and Kristie Dickinson, ISHC treasurer and managing director/EVP of CHMWarnick presented Berg with the recognition during the conference plenary session.

Kristie Dickinson

 Dickinson remarked, “I can tell you first-hand that Peggy has had a direct impact on my life and career, and I am just one of the hundreds, if not thousands, of people that share the privilege of knowing her, walking through the countless doors that she has opened and following the path that she has blazed for our industry.”

Upon accepting the award, Berg noted, “Pioneers step forward and create opportunity when restrictions are lifted – whether they are technological, legal or other restrictions.” 

Andrea Belfanti

Established in 1996, ISHC Pioneer Award winners are selected on a basis of three criteria: active involvement in the hospitality industry; contribution to the industry; and personal/organizational attributes and qualities adhering to professional standards recognized and respected by industry peers.

“This year’s Pioneer Award is extra special," remarked Andrea Belfanti, CEO of ISHC. "Not only does Peggy have a long list of accomplishments making an incredible impact on the hospitality industry, but she also is a founding member, member #7, of ISHC.

"Her legacy is deep-rooted in the Society’s DNA, and we are thankful for her many contributions.”

 

 CONTACT:

Chris Daly

President

DG Public Relations

(703) 864-5553

chris@dalygray.com

www.dalygray.com

www.Burba.com 

www.northstartravelgroup.com

ALISconference.com

ishc.com

 

Lendlease Appoints Anthony Giuliano General Manager of Life Science Construction

 

 Anthony Giuliano

NEW YORK, NY — Lendlease (ASX: LLC), a global real estate and investment group, announced the appointment of Anthony Giuliano to the role of General Manager, Life Science Construction, for its Americas region, effective Jan. 18, 2022.

 Giuliano will be based out of Lendlease’s Princeton, N.J., office and report directly to    Mike Fratianni, Managing Director, Construction.

 

  Mike Fratianni

“Anthony is admired for his impressive project portfolio, strong technical skills, seasoned managerial stature and outstanding attention to planning around safety and quality,” said Fratianni.

 “His tenured experience and cross-functional leadership will be a tremendous advantage for Lendlease and our talented team members who are committed to driving innovation in this fast-growing sector.”

 Giuliano holds a Bachelor of Science in architecture from the New York Institute of Technology and an associate degree in applied science, electrical engineering from Hofstra University.

 CONTACT:

 Matt Baker, mbaker@taylorjohnson.com

 (312) 267-4512

Diane Nevin, diane.nevin@lendlease.com,

(773) 610-2862

www.lendlease.com

  

Dream Finders Homes Plans Upscale Single-Family Home Community Near Central Florida Theme Parks

 

 Gerry Boeneman

WINDERMERE, FL – Dream Finders Homes recently purchased 306 acres in Horizon West with plans to create The Palms at Windermere, an intimate single-family home community, just minutes from Disney World’s Magic Kingdom.

The property – which Dream Finders purchased for $5.87 million – is part of a conservation area consisting of more than 1,200 acres around Lake Reams, according to Gerry Boeneman, President of the company’s Central Florida Division.

“Most of the land there is considered wetlands and is classified as a conservation area,” Boeneman said. “Because of that, only 15.95 acres of the 305 can be developed and we will build only 57 homes.”

Three to seven-bedroom homes at The Palms at Windermere, will range in size from approximately 2,500 to 5,000 square feet, and will be built on 60- or 65-foot homesites, he said.

Rendering of The Palms at Windermere,
 Horizon West community, Florida

“The floor plans will be similar to those at our Lakeside at Hamlin community here in Horizon West, and prices will range from the $500,000s.

Construction and sales are scheduled to begin in October.

When completed, Boeneman said The Palms at Windermere will offer large open spaces, sports court and a tot lot. 

Patrick Zalupski 

About Dream Finders Homes

 

Dream Finders Homes, founded by Patrick Zalupski in 2008, is routinely honored as one of the nation’s fastest growing companies. Based in Jacksonville, FL, the company has homebuilding operations in Orlando, FL, Savannah, GA, Bluffton, SC, Fayetteville, NC, Austin, TX, Denver, CO and the Washington, DC Metro area.  Dream Finders closed over 3,000 homes in 2020.

 

 

CONTACT:

 

Gerry Boeneman, Division Pesident, Dream Finders Homes, 888-214-1164 

or Gerry.Boeneman@dreamfindershomes.com

Samantha Foss, Marketing Manager, Dream Finders Homes, 888-214-1164

 or Samantha.foss@dreamfindershomes.com 

Beth Payan, Larry Vershel Communications,

407-461-3781 or beth@larryvershel.com

 

Stan Johnson Co. announces new partner program and inductees for 2022

Stan Johnson

 ST. LOUIS, MO. -- Stan Johnson Company, one of commercial real estate’s leading investment sales brokerage firms, is pleased to announce the inductees to its Partner Program for 2022.

 The program was launched in 2020, and it provides an opportunity for the firm’s top sales professionals to be rewarded for their outstanding contributions and recognized for their dedication to the company’s growth and culture.

 “I’m pleased to announce that we have three new qualifiers this year joining our esteemed group of Partners,” said Stan Johnson, company President and CEO.

Daniel Herrold

 “This honor is reserved for not only our firm’s top producers, but those who exemplify and embody our culture, who give selflessly to our clients and colleagues, and who are driven to be the best in the commercial real estate industry.”

 Stan Johnson Company Partner inductees for 2022 include Daniel Herrold, Jeff Matulis and Toby Scrivner.

“I’m honored to welcome our third annual class of Partner qualifiers, and I continue to look forward to watching them excel at their craft,” added Johnson.

 With 2022’s inductees, Stan Johnson Company’s Partner Program now includes 20 sales professionals across the organization. Future Partners will be named annually as new qualifiers meet established goals.

Toby Scrivner

About Stan Johnson Company:

Stan Johnson Company is one of the nation’s leading commercial real estate brokerage and advisory firms that focuses on investment sales transactions involving retail, office, industrial, healthcare, and specialty properties.

 The firm and its affiliates provide acquisition, disposition, sale leaseback, capital markets, and advisory services for institutions, developers, investment funds, corporate occupiers, and private investors across the United States.

Jeff Matulis

 With a historic focus in the single-tenant net lease sector, Stan Johnson Company is now in its fourth decade of operation and has expanded its service platform in order to better serve its valued clients.

The firm has completed more than $40 billion in transactions nationwide and continues to be regarded as the Net Lease Authority® as it focuses on continued growth and expansion into other industry sectors and services.  

 

CONTACT:

 

David Ebeling

Ebeling Communications

949.861.8351

949.278.7851 (Cell)

david@ebelingcomm.com

www.stanjohnsonco.com.

Member of the National Association of Real Estate Editors (NAREE)

“PR Strategist for the Commercial Real Estate Industry:  I do what I love and love what I do.”

Downtown Orlando Real Estate ‘Power Duo’ Sells and Leases Over 240,000 SF Valued at $41 Million in The Plaza During Covid-19 Lockdown

Downtown Orlando ’s twin office towers
on Orange Avenue at the corner
of Church Street

 ORLANDO, FL – Two brokers with Stirling International Real Estate sold and leased more than 240,000 square feet in The Plaza – downtown Orlando ’s twin office towers on Orange Avenue at the corner of Church St. – during the 18-month period when most of the nation and world was shut down in response to the pandemic.

 “Several large units were sold to international businesses and investors along with local businesses including some startups,” according to Roger Soderstrom, Jr. and John Kurtz, the Stirling team who orchestrated the transactions including the most recent sale of  the entire 16th floor penthouse office in The Plaza’s North Tower for $2,650,000.00. 

 

That Nov. 2 sale was for the north tower’s 10,891-square-foot contemporary penthouse unit and its accompanying 10,000-square-foot panoramic sky terrace / patio at 121 S. Orange Ave.  

From left: John Kurtz and Roger Soderstrom Jr.

Kurtz and Soderstrom represented the Seller ACM DT Properties, LLC, a Florida-based real estate firm.   The buyer is Orlando-based 121 S. Orange Ave. LLC based in.

“This extraordinary penthouse unit, with high-end custom appointments, spacious indoor and outdoor work spaces, and 360-degree views of Lake Eola and the Downtown Orlando area, is ideal for a regional or U.S. headquarters,” Soderstrom said, “and definitely an investor confidence booster.”  

   

Kurtz and Soderstrom said they aggressively sought investors who have been gradually pulling out of the stock market to buy commercial properties as a hedge against rapidly rising inflation.

Orlando downtown central business district

The Plaza, which is comprised of two office towers with approximately 400,000 square feet, a residential condominium tower, and a ground-floor retail area that includes a movie theater, was built in 2006 and 2007.

 

Soderstrom and Kurtz also were the selling agents for the 21^st floor penthouse in The Plaza’s South Tower a little over a year ago for $2,700,000, distinguishing them as very accomplished with sales in the Orlando area’s upscale office and penthouse market.

Lake Eola Park, downtown Orlando, FL

During the past 18 months, the Stirling team has sold 18 office condominiums in The Plaza, totaling more than 120,000 square feet with a sales volume of $27,000,000. 

 

At the same time, Soderstrom and Kurtz negotiated 21 offices leases for 92,000 square feet. Currently, Soderstrom said the company has more than 28,000 square feet under contract and pending in the two towers. 

 

CONTACTS:

 

John Kurtz, CCIM, Broker, Stirling International Real Estate, JKurtz@StirlingIRE.com (407) 250-1000

 

Roger Soderstrom Jr., Stirling International Real Estate, 

407-617-2830 or roger@stirlingint.com

 

Beth Payan, Larry Vershel Communications,

407-461-3781 or beth@larryvershel.com